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    GP Parsik Bank Group Loan

    Overview about GP Parsik Bank Group Loan

    Headquartered in Kalwa, a remote village in Thane in 1972, Gopinath Patil Parsik Janata Sahakari Bank (or the GP Parsik Bank) today has operations spread across Thane, Navi Mumbai, Pune, Nashik, Raigad and Ichalkaranji (Kolhapur). Apart from the regular banking services, the multi-state scheduled bank also offers deposit schemes, and loans & advances. The Group loan from GP Parsik Bank is aimed at helping customers meet their credit and liquidity requirements effortlessly.

    Purpose of GP Parsik Group Loan

    Sometimes the employer may deduct the loan instalment under Section 60 of The Multi-State Co-operative Societies Act, 2002 and remit the same towards the loan’s repayment. The employer may also remit the employees’ monthly salary directly to the Bank till entire loan is repaid and intimation to that effect is given by Bank. In such cases, group Loan may be considered, provided at least 10 employees are applying at a time as a group.

    The loan can be taken for the purchase of expensive consumer durable goods with or without security. The loan can also be availed to meet expenses like house repair, debt repayment or for any other emergency purpose.

    Eligibility to Avail GP Parsik Bank Group Loan

    GP Parsik Bank Group Loan can be taken by 10 Salaried individuals and salaried professionals employed in a single organization

    Features and Benefits of GP Parsik Group Loan

    Mentioned below are some of the benefits and features of the group loan provided by the bank:

    • The maximum loan amount that the group of salaried applicants can avail is Rs.5,00,000.
    • The repayment period is 5 to 7 years
    • Interest is charged on a floating method.
    • There is no fixed rate of interest.
    • The floating rate of interest for the loan is 13% for up to a period of 7 years.

    Documents required for GP Parsik Bank Group Loan

    In order to apply for a group loan through GP Parsik Bank, the applicants will be required to submit the following documents:

    • Identity Proof: A proof of identity such as driving license, passport, Aadhaar card, PAN card, etc., issued by a competent and legitimate government authority.

    • Address Proof: Any proof of address that contains the borrowers’ names and is issued by a competent and legitimate government authority. Could be driving license, passport, telephone / electricity bill (attested), etc.

    • Income Proof: Salary slips, issued by the organization, bank records, etc. of all the 10 applicants

    • Income tax certificates.

    • The bank may also require other documents on an individual basis after assessment of the borrower. This, however, will be declared on the bank’s discretion.

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